Canara Bank Faces Continued Stock Decline Amid Broader Market Challenges

Jan 13 2025 02:05 PM IST
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Canara Bank experienced a notable decline on January 13, 2025, marking its fourth consecutive day of losses. The stock has significantly underperformed its sector and the broader market over the past month. Despite these challenges, it continues to offer a high dividend yield.
Canara Bank, a significant entity in the public banking sector, saw a decline of 3.98% on January 13, 2025, closing near its 52-week low, just 0.84% above Rs 88.35. This marks the fourth consecutive day of losses for the stock, which has dropped a total of 9.04% during this period. On this day, it reached an intraday low of Rs 89.05, reflecting a decrease of 4.09%.

In terms of market performance, Canara Bank has underperformed relative to its sector, with a decline of 2.03% compared to the broader market. Over the past month, the stock has fallen by 16.46%, while the Sensex has decreased by 6.92%. Currently, Canara Bank is trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite these challenges, the bank maintains a high dividend yield of 3.47% at its current price.
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